PolarX Limited announced that it has secured an option to acquire a Mining Lease Agreement over the highly prospective Humboldt Range Gold-Silver Project in Nevada, USA, which comprises 177 lode mining claims. The option gives PolarX a 120-day exclusive period to finalize technical and legal due diligence on the project. Humboldt Range is situated between two large-scale active mines: the Florida Canyon gold mine, and the Rochester silver-gold mine and contains geology consistent with bonanza-style epithermal gold-silver mineralisation which is well known in Nevada. The claims have been owned by the same family since the 1950's and very limited exploration has been reported. Access to the project is straightforward via access roads off the I-80 Interstate, which lies less than 15km to the west. Widespread narrow vein mineralisation with visible gold occurs in the claims and was historically mined via numerous adits and underground workings between 1865 and the 1927. Mineralisation occurs in epithermal quartz veins of varying thickness (reported from 1cm to 3m), either as isolated veins or as zones of sheeted/anastomosing veins within zones of intensely altered host rocks. PolarX intends to immediately commence an evaluation of the length and continuity of the vein sets and a determination of whether the altered rock between the veins contains economically viable grades of gold and silver amenable to bulk mining. The Humboldt Range project will complement PolarX's Alaska Range Project, providing a longer field season for the Company via access to another high-quality project in a Tier-1 jurisdiction which can be serviced by the company's existing consultants. Very limited previous exploration data is available for the Humboldt Range claims. The following information has been compiled from internal company reports written by geologists from Victoria Gold Corp, who briefly evaluated the area between July 2005 and July 2009. During this period, Victoria Gold Corp. collected rock-chip samples from outcropping quartz veins and sampled mine dumps near many of the abandoned underground workings and adits. A total of 227 samples were collected on the claims being reviewed by PolarX. PolarX has copies of the assay certificates for these samples and has compiled a database of results. Representatives of PolarX visited the claims in late November 2020 and validated several sample locations. Samples were taken at these locations, and PolarX awaits confirmational assay results. Key findings of the previous exploration, including review of sporadic records from historical mining are as follows: The project contains volcanic lava flows of the Koipato Formation, with limestones structurally emplaced both above and below the volcanic rocks. Epithermal veins in volcanic rocks occur in very wide structural corridors varying from 30m to 275m width. The veins in these wide structural corridors are oriented N60E (200-275m wide structural system), N45W (140-200m), N-S (100-130m), and N25-30E (60-100m). Within the structural corridors there are literally hundreds of quartz-sulfide veins that carry visible gold and which range in width from 5cm to over 1.5 meters. Host rocks are strongly silicified over widths up to 5 times the thickness of the veins or more. Previous studies have indicated that the strongly altered host rock can also carry good gold values up to 2m away from 20-30cm wide veins. No exploration for limestone-hosted Carlin-style gold mineralisation has been undertaken to date on the claims. In addition to evaluating individual high-grade veins as possible mining targets, PolarX intends to evaluate these structural corridors to determine if modern-scale bulk mineable widths and grades are present. This will include geological mapping, rock chip and channel sampling and ground geophysics (IP to detect resistivity highs associated with the silicification). PolarX has commenced staking 100 additional lode claims in the Fourth of July area to consolidate the land holdings.